March 15, 2009

General Electric - Nothing but a Hedge Fund

GE for years has been nothing but a hedge fund masquerading as a company with a lot of high-risk bets and accounting tricks. They were always able to make their predictable earnings like clockwork because they pulled out the earnings from GE Capital when they needed them to even it all out.

No one's ever been able to fully understand all their liabilities. If they make the company completely transparent next week, investors are not going to like what they see.

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BIO

Peter David Schiff (born March 23, 1963) is an American economist, author, commentator and popular video blogger. Schiff, a licensed stock broker, is the president of Euro Pacific Capital, headquartered in Westport, Connecticut